Washington — The U.S. House of Representatives recessed today without reaching an agreement with the Senate on legislation to renew dozens of lapsed tax breaks. But just before they left, House leaders said they would reconvene on Thursday, renewing hopes that a tax bill may yet pass this session.

The House had planned to adjourn for the year today, but lawmakers abruptly reversed course this afternoon, after the House defeated a $700-billion emergency rescue plan for the financial industry.

Negotiations over the “tax extenders” bill, which includes a trio of tax breaks for higher education and families with children in college, reached an impasse in recent days, as factions in both chambers dug in over issues of cost. Conservative Democrats in the House continued to insist that the bill comply with “pay as you go” rules, which require tax cuts to be fully offset with either tax increases or spending decreases. Republicans in the Senate, which passed a partly paid-for bill, said that those offsets amounted to a tax increase.

With the two sides in deadlock, the bill is likely to remain in limbo until at least January, when Congress returns here for the next session. While it is possible that the House could return after the election to deal with the issue, the majority leader, Rep. Steny Hoyer, told Congressional Quarterly today that he had “no intention” of doing so.

“Sometimes, it’s necessary to say, ‘This far, but no further,’” he told the publication.

The delay is certain to dismay colleges and businesses, which have lobbied aggressively for the renewal of the tax breaks. —Kelly Field